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Press Release
Local chance to stimulate the economy
By KRISTI FUNDERBURK
The Daily Journal
April 6, 2009
MILLVILLE -- More than $700,000 from the recent federal stimulus package was awarded to the Millville Housing Authority, and the agency plans on using the federal funds to improve its existing structures.
MHA Executive Director Paul Dice said the authority received $720,675 from the American Recovery and Reinvestment Act that President Barack Obama signed into law Feb. 17.
The money will be placed in an account the authority can draw from for projects.
The authority will review its annual and five-year plans, and hold a public hearing to decide where to spend the money, Dice said.
The money will be used to make repairs at its units -- such as repairs to roofs and plumbing, as well as upgrading equipment, he said.
"We're thrilled to be able to have these funds to upgrade these facilities," Dice said.
The authority must decide what projects to spend the money on within a year and spend 60 percent of the money within two years. All of the money must be spent within three years.
If the money is not spent by the deadline, the federal government could take it back.
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